Konferenzbeitrag
The Government Spending Multiplier at the Zero Lower Bound: International Evidence from Historical Data
Based on a large historical panel dataset, this paper provides robust evidence that the government spending multiplier is significantly higher when interest rates are at, or near, the zero lower bound. We estimate fiscal multipliers that are around 1.5 during zero lower bound episodes and significantly below unity outside of it. We show that the difference in multipliers is not driven by multipliers being higher during periods of economic slack.
- Sprache
-
Englisch
- Erschienen in
-
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2018: Digitale Wirtschaft - Session: Macroeconomics - Fiscal Policy ; No. B04-V1
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Fiscal Policy
Studies of Particular Policy Episodes
- Thema
-
Government spending multiplier
zero lower bound
local projections
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Klein, Mathias
Winkler, Roland
- Ereignis
-
Veröffentlichung
- (wer)
-
ZBW - Leibniz-Informationszentrum Wirtschaft
- (wo)
-
Kiel, Hamburg
- (wann)
-
2018
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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Objekttyp
- Konferenzbeitrag
Beteiligte
- Klein, Mathias
- Winkler, Roland
- ZBW - Leibniz-Informationszentrum Wirtschaft
Entstanden
- 2018
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